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Derivative trading platform BitMEX adds digital currency Dash
Cryptocurrency derivatives trading platform BitMEX has added digital currency Dash to its trading platform. The addition follows BitMEX’s recent software updates and its historic 24-hour trading volumes.
The trading platform has listed Dash post the launch of its software upgrade Sentinel as well as the massive increase in Dash’s liquidity and total market capitalization. The digital currency stands in the 6th position among blockchain assets and since Jan 2nd, its market cap has soared 70%, reaching its highest ever market cap of $120 million. It is now trading at a market cap of $131 million at the time of writing.
“After observing the volumes traded on BitMEX for some time, it was obvious that BitMEX is consistently ranking amongst the top in USD/BTC volume on a daily basis. We felt that having Dash as an offering for BitMEX’s users was an obvious choice and one that would also provide Dash with its first derivative based market, which we are excited about,” Matthew Meek, business development spokesperson for Dash, stated in the release.
The digital currency’s recent growth in price also saw never before 24-hour trading volumes with an average of more than $2 million worth of Dash bought and sold every day. Dash has also set up its new headquarters at Arizona State University’s SkySong Innovation Center.
BitMEX exchange allows for trading using up to 100x leverage on bitcoin, and high leverage on altcoins. Digital currency Dash will join a growing roster of popular cryptocurrencies listed on the platform, including Bitcoin, Zcash, Ethereum, Ethereum Classic, Monero, Ripple, Augur, Litecoin and Factom.
“BitMEX aims to be the largest venue for the trading of any and all digital currency derivatives. As such, Dash belongs in our product offering. BitMEX believes financial privacy is valuable to the cryptocurrency exchange space. The first digital currency that can offer real electronic untraceable cash will be very successful. The Dash team is on the right path towards accomplishing this feat,” Arthur Hayes, CEO of BitMEX, stated.